Pub group Mitchells & Butlers yesterday said it had replaced its CEO Alistair Darby with insider Phil Urban as it warned weak trading would push full-year profit to the bottom end of forecasts.

Mitchells & Butlers — the British-based pub and restaurant owner, in which John Magnier and JPMcManus hold a significant stake — has reported a 4.4% year-on-year increase in sales for the first 17 weeks of its current financial year.

BRITAIN’s largest pub owner, Mitchells & Butlers (M&B) — which counts Irish businessmen John Magnier and JP McManus as shareholders — has reported a 5% increase in annual revenue and a return to profitability.

THE boardroom turmoil at Harvester owner, Mitchells & Butlers, intensified yesterday when its interim boss became the latest leader to call time on the troubled company.

Walkabout owner Regent Inns said today it saw no signs of a trading revival last month as the impact of the smoking ban hit home and customers reined in spending.